NEWS: not a good one.
Brokerage files $336,000 suit
Starpoint Goldfields Inc STS
Shares issued 6,444,175 Sep 29 close $0.25
Tue 30 Sept 97 Street Wire
by Brent Mudry
Starpoint Goldfields faces a $336,000 suit from Global Securities. In a
statement of claim filed Monday in BC Supreme Court, the Vancouver
brokerage firm claims that Starpoint has refused to repay a $300,000
one-year promissory note due on September 13. Global lawyer Andrew Bury
claims his client made demands for repayment of the loan, including 12
per-cent interest, on September 16, but Starpoint has failed and refused to
pay the full amount owing, or any partial amount. Starpoint is currently in
the process of raising $403,000 by selling 1.61 million units at $0.25. The
company also raised $368,000 in late July by selling 2.45 million units at
$0.15 in a separate private placement.
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